A damaged Florida nuclear plant that spurred a boardroom coup at Duke Energy Corp. in July risks getting scrapped unless the power company can justify spending more than $1.3 billion on the costliest-ever U.S. atomic repair.
The $99 trillion U.S. natural-gas industry, led by Exxon Mobil Corp . and Chesapeake Energy Corp ., is prepared for a surge in demand as Japan ’s nuclear crisis shakes confidence in atomic energy, executives said.
Duke Energy Corp. offered to sell some electricity at its cost plus 10 percent to ease regulatory concern about competition in wholesale power markets from its $15.3 billion purchase of Progress Energy Inc.
Dynegy Inc. extended for a third time the deadline for its distressed-debt exchange, which would swap as much as $1.25 billion of its outstanding notes for cash and new securities worth less than face value.
FPL Group Inc., the U.S.’s largest producer of wind and solar power, said third-quarter profit declined 31 percent. The company cut its 2009 and 2010 earnings forecast due to below-normal wind resources and the recession.